Every business needs new equipment at some point. Existing equipment gets old and outdated and additional equipment is often needed to grow a business. Nearly 80% of companies in the U.S. finance equipment to remain competitive. They recognize that it is more important to have and use the equipment than it is to own the equipment.
There are many advantages to financing your equipment purchase with Marlin. Here are the reasons we feel are most important:
Financing preserves your lines of credit. Save your bank borrowing capacity for other needs or emergencies.
Get the equipment and technology you need today while spreading your payments over time. Capital budgets can be used for other business expenses and more productive operational uses.
Changes in the economy, emerging competition and expansion require flexible options for a small business. Financing allows your business to grow or change with the tide quickly, without large up-front costs.
Technology changes rapidly. The software and equipment you purchased 2 years ago is most likely outdated. With financing, when your term is over, you have the option to purchase your equipment, trade it in for new equipment or return it outright. Keep your business at the forefront of your industry through financing.
For most term finance agreements, businesses can deduct monthly payments. The benefits and amount changes annually, so you should consult your tax advisor for more information on IRS Section 179.
Financed equipment can create income for your business that far exceeds the cost of your monthly payment. You can stretch your budget to obtain additional equipment you couldn't have afforded otherwise through fixed monthly payments.
Unlike some loan programs, you can finance 100% of your equipment, and include additional costs such as software, shipping, installation, maintenance and training into your total financing package.
Financing allows you to use equipment you need, for as long as you need it, with a fixed monthly payment. If interest rates skyrocket, your payment does not change.
We worked with Marlin previously and given our satisfaction with that experience, we decided to work with them again during our recent office remodel. Once again, our experience was extremely positive.
Craig & Cindy R.
Insurance Agency Owners
Contact us to speak with a Marlin Representative to discuss how leasing can benefit your business' bottom line.